Revenue growth has contracted by 35.7% year-over-year, while gross margins have deteriorated to a deeply negative 56.8% in the most recent quarter.
| Sales/Revenue | 35.62M | 110.01M | 107.38M | 26.43M | 33.03M | 47.37M | 19.09M |
| Revenue Growth % | -67.62% | 2.45% | 306.29% | -19.99% | -30.26% | 148.18% | - |
| Cost of Goods Sold | 53.99M | 90.59M | 110.27M | 30.9M | 35.31M | 45.55M | 22.22M |
| COGS % of Revenue | 151.6% | 82.34% | 102.69% | 116.93% | 106.89% | 96.15% | 116.41% |
| Gross Profit | -18.38M | 19.43M | -2.89M | -4.47M | -2.27M | 1.82M | -3.13M |
| Gross Margin % | -51.6% | 17.66% | -2.69% | -16.93% | -6.89% | 3.85% | -16.41% |
| Gross Profit Growth % | -194.59% | 772.91% | 35.47% | -96.66% | -224.86% | 158.17% | - |
| Operating Expenses | 46.66M | 28.04M | 41.64M | 31.95M | 16.37M | 10.01M | 6.55M |
| OpEx % of Revenue | 130.99% | 25.48% | 38.78% | 120.88% | 49.55% | 21.13% | 34.3% |
| Selling, General & Admin | 37.08M | 30.92M | 27.3M | 30.69M | 78.93M | 7.67M | 6.72M |
| SG&A % of Revenue | 104.1% | 28.1% | 25.42% | 116.11% | 238.93% | 16.2% | 35.22% |
| Research & Development | 9.58M | 8.97M | 2.83M | 1.7M | 2.01M | 749K | 473K |
| R&D % of Revenue | 26.9% | 8.15% | 2.64% | 6.44% | 6.09% | 1.58% | 2.48% |
| Other Operating Expenses | 0 | -11.85M | 11.51M | -440K | -64.58M | 1.59M | -649K |
| Operating Income | -65.03M | -8.61M | -44.52M | -36.42M | -18.64M | -8.19M | -9.68M |
| Operating Margin % | -182.59% | -7.83% | -41.46% | -137.81% | -56.43% | -17.29% | -50.69% |
| Operating Income Growth % | -655.4% | 80.66% | -22.24% | -95.37% | -127.63% | 15.36% | - |
| EBITDA | -53.08M | -1.91M | -39.67M | -32.09M | -15.16M | -6.55M | -9.1M |
| EBITDA Margin % | -149.04% | -1.74% | -36.95% | -121.4% | -45.88% | -13.83% | -47.69% |
| EBITDA Growth % | -2679.2% | 95.19% | -23.65% | -111.68% | -131.46% | 28.06% | - |
| D&A (Non-Cash Add-back) | 11.95M | 6.7M | 4.85M | 4.34M | 3.48M | 1.64M | 573K |
| EBIT | -65.03M | -81.14M | -55.19M | -36.43M | -21.19M | -8.19M | -9.67M |
| Net Interest Income | 1.41M | -16.3M | -13.7M | 10.41M | -2.52M | -2.13M | -885K |
| Interest Income | 68.6M | 24K | -10.67M | 10.86M | 47K | 0 | 1K |
| Interest Expense | 67.2M | 16.33M | 3.03M | 448.77K | 2.57M | 2.13M | 886K |
| Other Income/Expense | 2.46M | -88.86M | -13.7M | 20.09M | -68.58M | -2.13M | -884K |
| Pretax Income | -62.58M | -97.47M | -58.22M | -16.34M | -87.23M | -10.32M | -10.56M |
| Pretax Margin % | -175.69% | -88.6% | -54.22% | -61.8% | -264.04% | -21.8% | -55.32% |
| Income Tax | -290.04K | 491K | -3.14M | 2.57M | 413K | -45K | 1.49M |
| Effective Tax Rate % | 0.46% | -0.5% | 5.39% | -15.75% | -0.47% | 0.44% | -14.11% |
| Net Income | -62.29M | -97.96M | -55.08M | -18.91M | -87.64M | -10.28M | -12.05M |
| Net Margin % | -174.88% | -89.04% | -51.29% | -71.54% | -265.29% | -21.7% | -63.13% |
| Net Income Growth % | 36.42% | -77.84% | -191.33% | 78.43% | -752.53% | 14.68% | - |
| Net Income (Continuing) | -62.29M | -97.96M | -55.08M | -18.91M | -87.64M | -10.28M | -12.05M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.04 | -1.91 | -1.13 | -0.39 | -3.46 | -0.21 | -0.25 |
| EPS Growth % | 45.55% | -69.03% | -189.74% | 88.73% | -1547.62% | 16% | - |
| EPS (Basic) | -1.04 | -1.91 | -1.13 | -0.39 | -3.46 | -0.21 | -0.25 |
| Diluted Shares Outstanding | 60.12M | 51.22M | 48.92M | 49.01M | 25.34M | 48.81M | 48.81M |
| Basic Shares Outstanding | 60.12M | 51.22M | 48.74M | 48.81M | 25.33M | 48.81M | 48.81M |
| Dividend Payout Ratio | - | - | - | - | - | - | - |
Liquidity and solvency crisis
As reported in recent financial filings, ADSE's revenue has experienced a sharp contraction, with the most recent quarterly figures showing a 35.7% year-over-year decline, following a broader trend of volatility that suggests significant challenges in maintaining market demand for its specialized EV charging and storage hardware.
The consistent inability to sustain top-line growth indicates that the company's project-based revenue model is highly susceptible to external capital expenditure cycles. Investors should monitor whether this decline reflects a loss of competitive positioning or merely the lumpy nature of large-scale energy storage deployments.
Based on the company's latest income statement, gross margins have deteriorated to a deeply negative 56.8%, highlighting a fundamental disconnect between production costs and market pricing that appears to be worsening rather than improving as the company attempts to scale its proprietary battery-buffered charging technology.
This negative margin profile suggests that the cost of goods sold, likely driven by lithium-ion cell procurement and manufacturing inefficiencies, far exceeds the revenue generated per unit. Such a structural deficit warrants investigation into whether the current hardware design is economically viable without a significant shift toward higher-margin software or service-based revenue streams.
According to the provided income statement data, ADSE continues to struggle with operating leverage, as operating expenses remain high relative to gross profit, resulting in an operating margin of -163.5% in the most recent quarter, which underscores the company's inability to scale its overhead efficiently.
The persistence of high SG&A and R&D costs relative to a shrinking revenue base suggests that the company is not yet achieving the necessary economies of scale to support its current operational footprint. This lack of operating leverage implies that any future path to profitability would require a drastic reduction in fixed costs or a massive, unlikely surge in unit volume.
As indicated by the financial statements, the company's reliance on transactional hardware sales combined with a negative gross margin profile creates a precarious situation, raising significant concerns about the long-term sustainability of the business model in the absence of a pivot toward recurring revenue or cost optimization.
Short-sellers would likely focus on the rapid depletion of cash reserves and the inability to achieve positive unit economics as primary indicators of potential distress. The current financial trajectory suggests that the company may face a liquidity crunch, necessitating a potential capital raise that could be highly dilutive to existing shareholders.
Quick answers to the most common questions about buying ADSE stock.
For fiscal year 2025, ADS-TEC Energy PLC (ADSE) reported total revenue of $35.6M. This represents a 86.6% increase compared to $19.1M in 2019.
ADS-TEC Energy PLC (ADSE) reported a net loss of $62.3M for the fiscal year ending 2025.
ADS-TEC Energy PLC (ADSE) reported an operating income of $-65.0M, resulting in an operating profit margin of -182.6%. This margin reflects the operational efficiency of the business before interest and taxes.
ADS-TEC Energy PLC (ADSE) generated $-18.4M in gross profit for the year, representing a gross profit margin of -51.6%. This demonstrates the company's core pricing power and production efficiency.